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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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7043560 No.7043560 [Reply] [Original]

Idiots

>> No.7044017

>>7043560

What is going to happen when it comes out that Tether has just been making up their "reserves" and the value of the coin falls to $0?

>> No.7044138

nothing, its 2.2b mcap... like 1/271 of the total market capitalisation. its only noobies who think that this is the "life line " of crypto or bitcoin, in reality this shit will have as much as an effect as the silkroad ban did.. nobody gave a fuck other than noobies and normies who panick sold and QQed


away normies

>> No.7044765

>>7044017
>retard

>> No.7045247

https://news.bitcoin.com/report-claims-48-8-btcs-price-rises-last-9-months-occurred-within-2-hours-91-usdt-issuances/

Enjoy your -80% when this shit explodes

>> No.7045336

>>7045247
Pick the shitcoins you think can survive the crash. BTC won't that is for sure.

ETH and Ripple certainly will but I'm sure there is something with a lower MCAP that will surge.

>> No.7045692

>>7044138
>total market capitalisation
i automatically assume that anyone who mentions market cap in tether threads is a retard

>> No.7045788

>>7045336
If btc wont survive it then nothing will survive.

>> No.7045855

>>7045788
This. You're a legit retard if you think crypto can survive BTC's death.

>> No.7045887

>>7045855
90% of /biz/ are newcoiner faggots who don't understand that

>> No.7045907

When people are buying into crypto it ups the price of all crypto, how do you tether fudding retards not understand this? Lots of money has entered the market and a shit load of coins including bitcoin have posted 100x gains yoy. The same thing happens to tether. Hence the tether printing to keep the price at $1.

When people are massively buying into crypto and the price of bitcoin and all other coins are mooning OF COURSE tether is going to need to printed, just because two things happen at the same time doesn't mean one causes the other.

>> No.7045988

>>7045907
And what happens when BTC dumps / ppl cash out?
>inb4 cantcashout

>> No.7045994
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7045994

>>7045907
>monopoly money pumped by monopoly money
>nothing can go wrong guys

Good goy. Here, have this hat :^)

>> No.7046084

>>7045336
I think LINK can survive.

>> No.7046128

ITT: salty bagholders

>> No.7046433

>>7044765

Do you have any proof or sources that would indicate any third party has ever been able to audit or verify Tether's claimed fiat reserves?

>> No.7047126

>>7046433
Stfu nocoiner! We're all gonna be millionaires in 10 years and it's your fault if you don't buy in now!

And tether is less than 1% of the marketcap. Who cares if it dies? They deserve to lose all their money for not HODLing.

>> No.7047784

>>7044017
worst case scenario is that they are acquiring the funds to back up the reserves through illegitimate means. Bad if you hold tether at the moment it is announced cause everyone will rush from tether into crypto(driving up USDT price of all coins).

The most likely worst-case is that they are mint tether for themselves during intense value swings up or down.
>So they print tether
>use it to buy an asset at its low point or buy up a rising asset
>Sell asset on other exchanges for USD once it reaches their target to cover the unbacked tether
>Move all the then they move the cash from other exchanges through shell companies in order to back their tether position
>Any USD beyond what is needed to cover the unbacked tether print is kept as profit

But I am not positive they are doing that to a large extent. Most likely they just use lots of shady banking practices because they were forced out of US banks back in May. No auditing firm would be willing to sign off on the banking practices even if the balances all match up. To big of a liability for the auditor.

So holding tether is a liability, but it isn't going to crash crypto. Last nights mega fud hardly moved BTC.

>> No.7048523

>>7046433
They're a private company fucktard.